New Chairman of Gst Committee of State Fms is Amit Mitra [ Current Affairs ]

(February 20, 2016)

New Chairman of the Empowered Committee of State Finance Ministers on Goods and Services Tax (GST) is West Bengal Finance Minister Amit Mitra. This design was taken at the meeting of State Finance Ministers that was also attended by Union Finance Minister Arun Jaitley.

He has replaced Kerala Finance Minister K M Mani who has resigned in November 2015 due to corruption charges.

And with this appointment he becomes second chairman of the committee who tasked to frame rules for rolling out of the ambitious GST regime in the country.

Amit Mitra is an economist and had served as Secretary General of industry association FICCI prior to joining politics in 2011.

He has served as Finance Minister of West Bengal government led by Chief Minister Mamata Banerjee.

About Goods and Services Tax (GST):

GST is complete indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the Central and State governments to bring uniform indirect tax regime throughout the country.

The main of GST is to improve fiscal federalism by eliminating indirect tax blocks across states and integrate the country into a common market, boosting government revenue and decreasing business costs.